Investors focused on the Basic Materials space have likely heard of Alamos Gold (AGI - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Alamos Gold is one of 239 companies in the Basic Materials group. The Basic Materials group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. AGI is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AGI's full-year earnings has moved 44.32% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, AGI has moved about 34.88% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have lost about 12.93% on average. This means that Alamos Gold is outperforming the sector as a whole this year.
Looking more specifically, AGI belongs to the Mining - Gold industry, which includes 30 individual stocks and currently sits at #15 in the Zacks Industry Rank. On average, stocks in this group have gained 27.77% this year, meaning that AGI is performing better in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track AGI. The stock will be looking to continue its solid performance.